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Gold Bug Profile: Thomas Kaplan

JP Buntinx
April 16, 2020

Over the years, plenty of individuals have been identified as gold bugs. Thomas Kaplan certainly fits the narrative, primarily because of the way he made gold during his early career. He is also well-known for something quotes when it comes to making money with precious metals.

Thomas Kaplan the Businessman

Gold aficionados will have heard the name Thomas Kaplan before. The American billionaire businessman and investor has made a name for himself by making smart financial decisions. For nearly three decades, Kaplan has been associated with various activities involving precious metals, as well as using those investments to his advantage. 

The first link with precious metals became apparent in 1993. At that time, Kaplan founded Apex Silver Mines, taking up the role of chairman and chief executive officer. 

The “lucky break” for this company came in the form of discovering the San Cristobal deposit in Bolivia. Today, that is widely considered to be the one of the largest silver and zinc producers in the world. At the end of 2004, Thomas Kaplan retired from Apex to embark on other exploration ventures.

One of Kaplan’s other companies invested in African Platinum Plc back in 2003. This allowed it to become one of the largest platinum producers in South Africa. Similar to his stint at Apex, Kaplan left the venture by selling his position at a time during which African Platinum Plc was acquired by Impala Platinum Limited. 

The streak doesn’t end there. In 2003, Kaplan founded Leor Exploration & Production LLC. Despite not being associated with precious metals, the company grew out to become the fastest-growing private held hydrocarbon exploration and production company in the US. Four years later, the company’s natural gas assets were sold for $2.55 billion.

Thomas Kaplan the Gold Bug

One could say that Kaplan’s venture into gold investing began in 2000. This is the time during which his first major investments in gold were recorded. At that time, one ounce of gold was valued at roughly $300, which is a very big difference compared to how the market looks today.

Fast forward a few years, and his main focus shifts to Electrum Group. Through the Electrum Ltd exploration arm, a diversified international portfolio of gold exploration is built in quick succession. Other entities Kaplan is involved in hold major interests in publicly traded companies within the gold industry.

It is worth noting that Electrum Group is a controlling shareholder of Sunshine Silver Mining & Refining Corporation. That entity controls the Sunshine Mine, which has carved out its own legacy among silver mines in the United States. 

On a more personal level, many attribute the significant increase in gold price since 2,000 to Thomas Kaplan as well. More precisely, experts credit him with correctly predicting that the market would grow by leaps and bounds. With the help of Bloomberg Businessweek, Kaplan “earned” himself the title of “Gold’s Evangelist”.

Thomas Kaplan Quotes

Every gold bug has his or her own set of quotes which tend to live a life of their own. Thomas Kaplan is no different in this regard, although none of his quotes have been out of the ordinary. In fact, they are quotes that most people will certainly agree with, assuming they can achieve the same level of success.

His most recent quote gets straight to the point:

“Gold is just a great way to make a lot of money.”

– Thomas Kaplan

Another interesting quote by Kaplan is the following:

“I’ve reached a point where I feel the only asset I have confidence in is gold.”

– Thomas Kaplan

Last but not least, there is this quote which is certainly applicable during the current coronavirus situation:

“If the world does well, gold will be fine. If the world doesn’t do well, gold will also do fine… but a lot of other things could collapse.”

– Thomas Kaplan

All of these opinions will – most likely – remain valid for quite some to come. Gold is seemingly on track to hit a new all-time high in the near future, further validating Thomas Kaplan’s decision to invest heavily in precious metals. 

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